Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bear Put Spread trade opportunity for FIRST HORIZON NATIONAL (FHN) for the 19-Jun-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. FHN was recently trading at $8.45 and has an implied volatility of 64.12% for this period. Based on an analysis of the options available for FHN expiring on 19-Jun-2020, there is a 34.14% likelihood that the underlying will close within the analyzed range of $6.73-$8.30 at expiration. In this scenario, the average linear return for the trade would be 48.90%. Big -7.65% Change: After closing the last trading session at $9.15, FIRST HORIZON NATIONAL opened today at $8.92 and has reached a low of $8.42. Trade approach: A movement as big as -7.65% is a significantly bearish indicator, so this trade is designed to be profitable if FHN maintains its current direction and does not revert back to pricing on the bullish side of $8.45 on 19-Jun-2020. If possible, the trade has been padded such that slight movement against the trade would still return a profit. Upside potential: Using this bearish strategy, the trade would be profitable if FIRST HORIZON NATIONAL closes at or below $8.35 on 19-Jun-2020. Based on our risk-neutral analysis, there is a 51.10% likelihood of this return. Downside risk: As with any options trade, there is a substantial downside risk where you may lose most or all of your investment. To analyze this trade in depth, please visit the Quantcha Options Search Engine.